PokerStars defends recent policy change

Eric Hollreiser defends PokerStars' decision to apply a 2.5% fee to currency conversions.

Following the backlash to its recent policy change regarding currency conversions, PokerStars has responded with an explanation.

The implementation of a 2.5% currency conversion charge (when you deposit in our native currency and convert to USD) at PokerStars caused a social media storm among the site's faithful late last week. Seemingly upset with the decision to implement the change without consulting players, many regulars decided to air their grievances via the community's forums after the news went public.

Following the public wave of discontent, PokerStars' Head of Corporate Communications, Eric Hollreiser, decided to respond. Posting on the site's corporate blog, Hollreiser explained that PokerStars has always worked hard to reduce the amount of money players have to spend to play online poker. 

Stating that many of the decisions have often been detrimental to the company's bottom-line and cost "a lot of money", Hollreiser was keen to stress that the recent decision wasn't taken lightly. Confirming that, until now, PokerStars hadn't levied this charge on players, he went on to explain that the policy change was made in order to sustain the poker economy for both the site and its players. 

Chiming in on the debate, PokerStars' Michael Josem explained that the 2.5% charge is very competitive and better than most banks charge. Moreover, players who bank in USD, CAD, EUR and GBP won't be subject to such charges as the site allows for account balances to be held in these four currencies. 

To conclude his post Hollreiser explained that PokerStars' recent decisions haven't been made in an effort to reduce costs and increase profits to help satisfy the new owners, but to sustain the poker economy for future generations:

"I like to think of it as bankroll management. The choices we make today aren't for short term gain; they’re made because we believe they’re the right thing for tomorrow."


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PokerStars defends recent policy change

Following the backlash to its recent policy change regarding currency conversions, PokerStars has responded with an explanation.

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